We can agree to disagree. A significant fraction of the successful 2016 capital raises had almost nothing in the way of a plan for how to achieve their goals, a

We can agree to disagree. A significant fraction of the successful 2016 capital raises had almost nothing in the way of a plan for how to achieve their goals, and were set up to make it trivial for the fund soliciters to scam the investors. Having anonymous project leads makes an investment proposal indisputably worse, and that was case for many of the early token sales, to give one example of a feature that investors demonstrably learned to avoid. Terra had actual development, a viable ledger, actual deployed dApps, and decent wallet software and consensus infrastructure integration, in being a Cosmos blockchain app. Terra was bad, but when the totality of the projects is examined, nowhere near as bad as what was once common. >An overcollateralized loan is traditional lending. It's a software-implemented mortgage. How reliable it is is dependent on the risk profile of the backing assets and the creditworthiness of the borrower. The protocols that now constitute DeFi primitives survived completely unscathed in the recent crash, while numerous centralized lenders both inside and outside crypto became insolvent. When loan contracts are enforced transparently and in accordance with terms that are immutably encoded, there is virtually zero risk of fraud and mistakes.